10 February, 2017

Multinationals in Mexico say Trump unlikely to tear apart NAFTA

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executives said they have no intention of reducing their activities
in Mexico

An
organization comprising the 50 largest multinational companies
operating in Mexico said Wednesday that they would pay close
attention to the actions taken by U.S. President Donald Trump's
administration but were not overly concerned and regarded the
potential dismantling of the North American Free Trade Agreement
(NAFTA) as unviable.

"It's
a reason to be very carefully observant, but we're convinced that
it's a great opportunity for Mexico to reassess its strategic pillars
in the trade area," the president of the Executive Council
on Global Enterprises (CEEG), Frederic Garcia, told EFE.

The
CEEG comprises nearly 50 multinational firms that are market leaders
in Mexico, including Coca-Cola, ExxonMobil and Microsoft, companies
that provide 500,000 direct jobs and 1.5 million indirect jobs and
account for 10 percent of the country's gross domestic product (GDP),
11 percent of its exports and 40 percent of total foreign direct
investment.

In
less than 15 years, the CEEG intends to bring about a more
competitive Mexico by making the country more globalized, efficient
and inclusive, Garcia said.

Trump
has repeatedly criticized NAFTA as a destroyer of American jobs.